Govt Drive to Place Bali as Top Destination

The Bali Times
November 2006

C151 Resorts and PT Hanno Bali Director Hanno Soth has been chosen as the first company to take part in a trial run revolutionary real-estate project in Bali and around the country - a transparent property-registration system in the works that will soon be unveiled, Deputy Regent of Badung Drs. I Ketut Sudikerta said.

Foreigners investing here will have their property rights registered on a database protecting their investment, and improving all around investor confidence he said, declining to reveal more about the system until later this month.

C151 Resorts and PT Hanno Bali Director Hanno Soth told The Times the new measures would take real-estate investment to the next level on the island.

“Bali is poised to become the top choice for lifestyle - and retirement-property investment in Asia, and the government, by providing a clear system for foreigners to hold real estate as well as a land-registration system to secure the investors’ interests, is making it very attractive to invest and live in Bali,” Hanno Soth said.

After recent setbacks, industry analysts agree and government data shows that Bali is once again back in stride, drawing in much-needed foreign investment as tourist arrivals to the island climb.

Despite its past troubles, however, Bali continues, year after year, to be voted the world’s number-one island destination by international travelers – beating out Thailand, Hawaii and the Caribbean, among many others - and this year has been no exception, with the accolades continuing to flow.

For Soth, foreign-investor confidence is returning, as evidenced by strong C151 villa sales and by one of the world’s most prestigious hotel brands, Bulgari, just opening the doors to its multimillion-dollar complex.

- Read full article in The Bali Times here